Interning and Taxes

In my opinion you should get the internship provider to issue the W-2 they should have given you in the first place. If the employer refuses, file Form 4852, Substitute for Form W-2, Wage and Tax Statement ..., with your tax return. That won't save you but about $30. Keep in mind that you will be burning your bridges with that employer if you follow the above course of action. So, if you want to eat the $30, consider filing a CONFIDENTIAL complaint with your college/ university's internship coordinator.

What exactly is the amount of the 1099-MISC box 7? "Over $400" could be a lot or a little. The previous reply, I think, assumed your self-employment revenue was just about $400, while I think you mentioned that number because that is the net self-employment profit subject to SE tax.

Assuming you are

• not claimable as a dependent
• not married
• have no dependents of your own
• leaving out education-related tax benefits
• leaving out other credits typically not available to those who are students or under age 25 (such as EIC and retirement savings credit)

the first $8,950 of your adjusted gross income is income tax-free. After subtracting that, your federal tax bill for your tax bracket (the lowest) would be roughly:

I don't see how this could equal $800 if your "full income" is less than $10K. (Yes, I'm oversimplifying, but trying to get some ballpark reality check here).

You are either screwing up your tax calculation big-time, or there's more to your story. It's not at all clear that you either owe what you think you owe, or that if you do, it's because of a $400 stipend.

Or put another way, what would you "appear" to owe without the stipend?

-Mark Bole